Introduction
Spokane Industries has contracted Franklin Electronics for an 18 month product development contract. Franklin Electronics is new to using project management methodologies and have not been exposed to earned value management methodologies. Even though Franklin and Spokane have worked together in the past, they have mainly used fixed price contracts with little to no stipulations. For this project Spokane Industries is requiring Franklin Electronics to use formalized project management methodologies, earned value cost schedules, and schedules for reports and meetings. Since Franklin Electronics had had no experience with earned value management, the cost accounting group was trained in the methodology in order to bid for the
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Case questions Cost variance is calculated by subtracting budgeted cost for work performed from actual cost for work performed and schedule variance is calculated by subtracting budgeted cost for work scheduled from budgeted cost for work performed. The vice president’s analysis that the project’s costs are overrun is correct and it appears they are also behind schedule. I would agree with the vice president’s analysis that improvements need to be done to keep the cost and schedule under control. One thing that the vice president forgot to include in his analysis is the fact that the schedule variance does not measure time by itself. Even though the project currently has a negative schedule variance at this point in the project, it does not mean that the project manager can’t make up the time later in the project and get the schedule variance back on track. Franklin Electronics should have included a real schedule analysis to show where the timeline really stands. It is important to see a real schedule analysis to determine if the project is truly in danger of not getting done on time. Franklin Electronics has a simple understanding of earned value management. They understand how to calculate cost and schedule variance, but they don’t know how to analyze the data that they gave to Spokane Industries. If they understood how to analyze these metrics in depth, they would have understood why the vice president was calling the emergency meeting and would have been
The critical activities are not behind schedule and the task the critical tasks are dependent on “Slab on Grade” is complete. Since the critical tasks are not behind schedule it is not safe to assume that the project will complete on time.
The impact of Earned Value analysis in managing project cost control is undeniable. When EVM is implemented on a project, there are significant benefits to the project manager and the customer. Project manager benefits include increased visibility and control to proactively respond to issues that can impact project schedule, cost and objectives. Customer benefits include increase confidence in the PM’s ability to manage the project and track the progress of their project. Additionally, EVM provides a wealth of information for accountants. Accountants can use the data to report profitability to the investment community (Wilkens, 1991). There is a true connection between project management and corporate accounting. PMs use data provided by finance departments as inputs to determine cost performance of projects via EVM. This includes information used to create financial statements such as the cash flow statement, used to track the actual cash in hand. Said financial statements are to be crafted in compliance with the U.S. GAAP (generally accepted accounting principles). GAAP impacts every item on a qualifying financial statement. GAAP guidelines dictates how financial statements are produced every step of the way, covering hundreds of different components, according to Stanford University’s Cardinal Money Management website (Gresham, 2012). GAAP encompasses basic accounting principles and guidelines and detailed standards issued by the Financial Accounting Standards Board
Cathy did not see the shot coming and she never knew that it was the shot that hit her;
1.3. In order to estimate the peso discount rate, assume that the International Fisher Effect (IFE) holds. Groupe Ariel's Euro hurdle rate for a project of this type was 8%. Assume that inflation rates are expected to be 7% in Mexico and 3% in France.
Essentially, with the current cost system, the managerial analysis is highly flawed due to a lack of crucial in-depth cost information, as indicated by:
In the past, the booming economy had allowed for year to year increase in their sales because people had larger discretionary incomes. But due to the recession, smaller independent retailers had to markdown their items in order to stay in business because designer outlet stores are getting more traffic; so will Harry Rosen follow in suit? Or in order to maintain the integrity of the quality products they offer, will they continue their higher pricing and settle for a lower market share?
THE OBJECTIVE OF THIS CASE STUDY IS TO UNDERSTAND W L GORE &ASSOCIATES. THE MAIN TASKS OF THE ASSIGNMENT ARE: FIRSTLY, IDENTIFY THE MANAGEMENT AND LEADERSHIP STYLES OF COMPANY AND FIND THE IMPACT OF THESE STYLES ON COMPANY’S STRATEGIC DECISIONS. SECONDLY, FIND THE CONNECTION BETWEEN SELECTED STRATEGIC MANAGEMENT AND LEADERSHIP THEORIES AND DESCRIBE THE IMPACT OF THESE THEORIES ON ORGANISATIONAL AND LEADERSHIP STRATEGY. THIRDLY, USE PROPER TECHNIQUES TO RE- EXAMINE COMPANY’S LEADERSHIP REQUIREMENTS AND FINALLY THE AIM IS TO PRODUCE A LEADERSHIP SKILLS PLAN FOR W L GORE’S FUTURE REQUIREMENTS.
1. What is the cause of Black & Decker 9% share and Makita’s 50% share?
Herman Miller is a modern furniture company based in Zeeland, Michigan. Originally named Star Furniture Company in the early 1900’s the company was known for high quality bedroom suites (Herman Miller). In 1909 Dirk Jan De Pree was hired as a clerk for the company and eventually became president in 1919 when the company was also renamed Michigan Star Furniture Co. Five years later De Pree convinces his father-in-law, Herman Miller to help purchase 51% of the company’s stock then renamed the company Herman Miller Furniture Company (Herman Miller). The company later became Herman Miller Inc. in 1960. During the 1920’s HMI only produced traditional style furniture but was forced in a new direction by both the great depression and the ambitions of Gilbert Rhode.
The use of a case study analysis can help a student or group apply the best theory to an individual’s problems or issues. The green team will face the challenges as therapist to provide the necessary problem solving skills that may be suitable to this case study. Ana is the adult female in this case study who is face with different types of problems or issues. The green team will analyze the information, apply best theory, and provide results that will be appropriate for Ana’s major stressors. As there may be no wrong or right answer, it is the work of great minds
The earned variance measurement would take using the schedule and plan budget or actual cost to figure out any variance. When using the earned variance measurement any positive variance indicates earning of the total. Now learning about the two varied understands their nature; a positive variance is indicated. The earned value calculation uses the baseline information on budgeting of the planned value of estimation of the cost. The actual cost is which work completed within a timed period and lastly is the earned value which budgets for the work performed with work completed (Chambers,
The reason parents read fairytales to their children is not for the sheer purpose of entertainment (or to get them to just fall asleep already), nor is it to install false hope. These improbable stories are didactic. Parents recite these tales in the hopes of inspiring their children and teaching them a life lesson. If the girl who was deprived of her father, was treated as a maid, and was verbally abused by her stepmother can get the prince, anyone can preserve through the obstacles of life. Making the Case has the same purpose, however this story is not a fake. TS Kimberly Guilfoyle’s style utilizes powerful anecdotes in Making the Case to successfully explain her life, teach life lessons, and inspire the reader.
In late 1980s, in order to curve the increasing medical expenses, American government have launched case management. Case management not only effectively decreased the medical expenses, but also guaranteed the patients can get the necessary medical service they need. According to American Case Management Association, a non-profit organization that support the practice of case management, case management is "a collaborative process of assessment, planning, facilitation, care coordination, evaluation, and advocacy for options and services to meet an individual’s and family’s comprehensive health needs through communication and available resources to promote quality cost effective outcomes”(ACMA, 2015). The personnels involve in the case management system are called case managers. Case manager is a professional with nursing qualifications holding a case load with responsibility for overseeing and/or delivering the processes of case finding, assessment, care delivery, monitoring and review for, and with, a patient and their family carer(s) (Goodman et al. 2010). Case management was first found in early twentieth century by social workers and public health nurses(Patricia, 2011). For this model, nurses, social workers, and other disciplines can work as case managers. However, in this article, I will focus on the nurse care case managers. In the Nursing case management model, all patients are assigned to a nurse case manager. For example, all the pediatric patients are assigned to
In this industry, the entry barriers are decided by the competitor’s capital investment and market share. The food and beverage business is divided into two categories: the first market segment relates to a commercial food business which owns 79 percent of market share. Douglas fine food comes under a commercial food segment and owns a large amount of market share in Catering, franchises, and restaurant services. The business possesses a strong base in the market through its long holding presence in the market due to which the new entrant cannot impose a high potential threat to the company.